Condos in the Tempe area have generally followed the overall housing trend for the last few years. As with all housing, condos significantly appreciated in value from 2003 - 2005, and leveled off over 2006. There appears to be particularly good demand for condos in the downtown Tempe area, primarily due to the impact of ASU and business development activities. ASU housing demand will continue to put pressure on affordable student housing availabilitiy. Finding quality, reasonably priced student condos are becoming more difficult to find. I think a purchase now will be a good long term investment.We are in a buyers market, so there is some downward pricing pressure. Days on market for condos to sell have extended from an average 38 last year to about 60 this year for condos sold in the $...
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